Value Added Tax 2023-24

Just published. 

Practical, in-depth commentary (over 1,100 pages) on VAT, written in a clear style, at an intermediate level.

The book is aimed at tax professionals who do not specialise in VAT. The book represents superb value on its own or as part of a discounted bundle.

Contents (in brief)

• Overview
• General principles of VAT
• Property
• Cross-border transactions
• Partial exemption and the capital goods scheme
• Zero rating and reduced rating
• Exemptions
• Special schemes (flat rate, etc.)
• Dealing with HMRC

New for this edition

This second edition has been thoroughly reviewed, and all examples and HMRC contact details have been updated as appropriate. The structure has been improved for ease of navigation. Other key changes for this edition include:

• HMRC’s new approach re whether an activity is “business” including a discussion of the Sveda case
• Updated section on apportionment methods for non-business input VAT
• Updated discussion re whether fines and penalties constitute consideration in light of new case law
• Updated HMRC guidance re apportionment of monetary consideration
• Upper Tribunal decision in favour of the taxpayer in the Hotel La Tour Ltd case
• New HMRC guidance re making the option to tax
• Revised HMRC guidance re village halls
• Revised HMRC guidance re building materials
• Updated commentary re transfer of a going concern treatment in respect of property
• HMRC clarifications re construction reverse charge scheme
• Signing of the new Windsor Framework reflected in numerous chapters
• Potential impact of the European Commission’s VAT in the Digital Age (ViDA) programme
• Details of the new freeports and their beneficial VAT effects
• New HMRC guidance re evidential requirements for exported goods
• Expanded discussion of electronically supplied services and other digital services
• New HMRC guidance re obtaining a certificate of status for UK businesses reclaiming EU VAT
• Updated HMRC guidance re non-UK businesses reclaiming UK VAT
• Additional detail re triangulation
• Amended HMRC guidance re flat rate scheme, including postponed import VAT and mention an anomaly in respect of Northern Ireland and supply of services to the EU
• Amended HMRC guidance re the cash accounting scheme, in relation to excluded transactions and handling part payments
• Analysis of the recent tour operators’ margin scheme (TOMS) case Sonder Europe Ltd
• Expanded discussion of UK establishment for the purposes of VAT grouping, including HMRC guidance on fixed establishments
• Updated chapter on the application process to form a group
• Closure of the VAT Registration Helpline
• Updated chapter on VAT registration, including HMRC’s new registration process via the VAT registration service portal
• New HMRC policy of making VAT repayments direct to overseas bank accounts rather than by payable order
• Commentary on new penalty regime for late filing of VAT returns and late payment of VAT substantially rewritten and expanded.

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